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I Want to Purchase Property in Greece

The right choice; owning property in Greece offers a sense of freedom, enjoyment and security. It also represents a solid investment opportunity.

What can MStR Law do for me?

MStR Law will stand by you at every step of the property acquisition process. Our lawyers’ extensive experience in the Greek real estate market gives our clients confidence throughout the process and satisfaction with the final outcome.

What do I need to know before investing?

We have prepared a summary of some key aspects that you should be aware of before proceeding with a property investment in Greece:

  1. Security when purchasing property in Greece
  2. Organisation and coordination of the property acquisition
  3. Taxes in Greece related to real estate
  4. Urban planning compliance and restrictions
  5. Energy and real estate
  6. Greek Golden Visa and property exploitation through short-term rentals

SECURITY WHEN PURCHASING PROPERTY IN GREECE

  • Public faith is ensured through the Hellenic Cadastre.
  • The lawyer reviews the cadastral records and previous title deeds relating to the property.
  • The lawyer also checks whether the property is subject to any encumbrances, such as mortgages.
  • The prospective buyer is informed in writing of the legal status of the property, and any issues are addressed prior to the transfer, in cooperation with a civil engineer or architect where necessary.

 

MStR Law provides all of the above services in close cooperation with all the buyer’s advisers, conducting a complete legal due diligence of the property and ensuring that each property transfer is completed in a legally secure manner.

 

ORGANISATION AND COORDINATION OF THE PROPERTY ACQUISITION

  • The transfer of real estate in Greece is effected by means of a notarial deed.
  • Investment opportunities may also arise through the acquisition of properties at auction.
  • The lawyer organises and coordinates a series of actions that must be completed before the execution of the notarial deed.
  • The lawyer works closely with the notary to prepare the transfer deed and collect all necessary documentation.
  • The lawyer arranges for the registration of the notarial deed with the Hellenic Cadastre in order to complete the acquisition of the property by the client.

 

MStR Law handles all organisational and coordination requirements relating to the acquisition of property with consistency and precision.

 

TAXES IN GREECE RELATED TO REAL ESTATE

  • Unified Property Tax (ENFIA): an annual tax imposed on rights in rem over property (ownership, usufruct, etc.).
  • Special Property Tax: a tax imposed on certain types of legal entities that own property in Greece.
  • Property Transfer Tax: a tax payable by the buyer.
  • Gift Tax.
  • Parental Gift Tax.
  • Inheritance Tax.
  • Income Tax on income derived from property.
  • Tax on short-term rentals (Airbnb).

 

MStR Law, in cooperation with specialised tax advisers, handles its clients’ property taxation matters in the most effective manner.

 

URBAN PLANNING COMPLIANCE AND RESTRICTIONS

  • Assessment of whether the property may be used for the intended investment.
  • Review of building restrictions and unauthorised constructions.
  • Review of the building permit and any restrictions arising from urban planning.
  • Review of common areas and any outstanding issues arising from urban plans.

 

A combined legal and planning review is required in order to assess the characteristics of a property. As regards the legal review, MStR Law’s lawyers work closely with the investor’s civil engineers or architects, who review the property’s compliance with planning regulations.

 

ENERGY AND REAL ESTATE

  • New energy standards for buildings in Greece.
  • Integration of renewable energy sources and energy-saving measures in new and existing buildings.
  • Financial support for energy upgrades.
  • Financing instruments and opportunities to participate in energy efficiency programmes.

Our lawyers, together with engineers specialised in the energy sector, can support energy upgrade projects for buildings, delivering direct benefits to the investor.

 

GREEK GOLDEN VISA AND PROPERTY EXPLOITATION VIA SHORT-TERM  RENTALS

  • The Greek Golden Visa grants the right to reside in Greece and travel freely within the Schengen Area.
  • Valid for five years and subject to renewal without requiring presence in Greece, provided that the investment is maintained.
  • Minimum investment of €800,000 in high-demand areas and €400,000 in other areas. The property must have a minimum surface area of 120 sq.m.
  • Registration of the property and issuance of a Property Registration Number in order for it to be offered for short-term rental (Airbnb-style).
  • Property requirements for rental purposes.

MStR Law can provide investors with a comprehensive package of services for obtaining a Golden Visa or other types of visas for themselves and their families, together with all procedures relating to the acquisition of the investment property or the implementation of other types of investments. We also provide complete legal support for short-term or long-term rental of properties.